Short Interest in Industrial Logistics Properties Trust (NASDAQ:ILPT) Declines By 9.4%

Industrial Logistics Properties Trust (NASDAQ:ILPT) was the recipient of a significant decline in short interest in the month of September. As of September 15th, there was short interest totalling 2,030,000 shares, a decline of 9.4% from the August 31st total of 2,240,000 shares. Based on an average daily trading volume, of 664,900 shares, the days-to-cover ratio is presently 3.1 days. Approximately 3.5% of the company’s shares are short sold.

Analyst Upgrades and Downgrades

ILPT has been the subject of several recent analyst reports. B. Riley upped their target price on Industrial Logistics Properties Trust from $9.00 to $10.00 and gave the company a “buy” rating in a report on Monday, August 5th. JMP Securities reissued a “market perform” rating on shares of Industrial Logistics Properties Trust in a report on Wednesday, July 3rd.

Institutional Investors Weigh In On Industrial Logistics Properties Trust

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Fifth Lane Capital LP bought a new stake in Industrial Logistics Properties Trust during the first quarter valued at $49,000. Mesirow Financial Investment Management Inc. purchased a new position in shares of Industrial Logistics Properties Trust during the first quarter worth about $58,000. SG Americas Securities LLC purchased a new position in shares of Industrial Logistics Properties Trust during the first quarter worth about $59,000. Cetera Advisors LLC increased its position in shares of Industrial Logistics Properties Trust by 68.0% in the first quarter. Cetera Advisors LLC now owns 18,311 shares of the company’s stock worth $79,000 after purchasing an additional 7,413 shares during the last quarter. Finally, Bright Futures Wealth Management LLC. purchased a new stake in Industrial Logistics Properties Trust in the first quarter valued at approximately $83,000. 49.08% of the stock is currently owned by institutional investors.

Industrial Logistics Properties Trust Stock Performance

Shares of ILPT stock traded down $0.08 during trading on Friday, reaching $4.78. 382,858 shares of the company’s stock traded hands, compared to its average volume of 509,169. The firm’s 50-day moving average is $4.91 and its 200 day moving average is $4.26. The company has a market capitalization of $314.68 million, a P/E ratio of -2.91 and a beta of 1.80. Industrial Logistics Properties Trust has a 1 year low of $2.21 and a 1 year high of $5.45. The company has a current ratio of 5.09, a quick ratio of 5.09 and a debt-to-equity ratio of 3.96.

Industrial Logistics Properties Trust Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Monday, July 22nd were paid a $0.01 dividend. The ex-dividend date of this dividend was Monday, July 22nd. This represents a $0.04 annualized dividend and a yield of 0.84%. Industrial Logistics Properties Trust’s dividend payout ratio is currently -2.44%.

About Industrial Logistics Properties Trust

Industrial Logistics Properties Trust (Nasdaq: ILPT) is a real estate investment trust, or REIT, focused on owning and leasing high quality distribution and logistics properties. As of December 31, 2023, ILPT's portfolio consisted of 411 properties containing approximately 60 million rentable square feet located in 39 states.